Price Reduced $850,005 (46%)!

I’m not sure what I’m more amazed by, the fact that this property has been reduced by almost half, or the fact that the original asking price was a pipe dream. Another great example of trying to chase the market down. This property has been on the market for more than two years, and has seen price reductions totalling more than $850,000, a whopping 46% off of the original list price.

Address: Tiger Lilly Lane, Harding NJ
Original List Price: $1,850,000
Current List Price: $999,995 (Price reduced 46%)
Time on Market: 2 years, 1 month

MLS# 2105400
Listed: 09/03/05
Original List Price: $1,850,000
Reduced to: $1,750,000
Days on Market: 192

Relisted as MLS# 2256702
Listed: 03/13/06
Original List Price: $1,750,000
Reduced to: $1,649,500
Days on Market: 173

Relisted as MLS# 2315799
Listed: 09/03/06
Original List Price: $1,575,000
Days on Market: 119

Relisted as MLS# 2370403
Listed: 02/01/07
Original List Price: $1,575,000
Reduced to: $999,995
Days on Market: 246

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7 Responses to Price Reduced $850,005 (46%)!

  1. BklynHawk says:

    Since I don’t know anything about this house or Harding, what seems more in line with reality on the price? It looks pretty nice from the outside.


  2. Bubbling says:

    No surprise there…current housing market conditions demand it. Similar price reductions have been in place in Upper Montclair , NJ by builder. Homes were priced from 1.6 to 1.9 mill. for almost a year. Once reduced to 1.1 mil all were sold.

  3. Hard Place says:

    I think they are trying to create a bidding war.

    Now this is well worth a $1mm, probably a bit more.

    It sure beats this home in Harding…

  4. Sybarite F.K.A. New Investor says:


    Harding is very nice. Take a look at the taxes! Only $6100.

    I think JB’s point was in regard to the OLP.

  5. Scott says:

    They neglect to mention the house is right next to rt 287 and is off the service rd and a block away from the exit ramp.

  6. Vega says:

    Grim, it’s great to see you still holding the housing market to the fire. Price cuts galore, Lowball (!), etc. Sooner or later the high-end in Manhatten will crater, just like NNJ.

  7. It is very busy and noisy. that is the reason. Buyers look at the website and think Harding–a VERY AFFLUENT AREA, ONE OF HIGHEST INCOMES IN THE STATE. As a licensed broker/ sales associate
    with COLDWELL BANKER in Morristown
    973-610-9472 cell I tell them there is always a reason why a home if a home stays on the market for 2+ years, either pricing or a site problem. This one has a site problem but is more realistically priced.

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